A. Long-term care is assistance people need when they no longer can care for themselves. This may be due to an accident, disability, prolonged illness or the simple process of aging. Long-term care services include:

• Help at home with day-to-day activities, such as cooking, cleaning, bathing and dressing

• Care in the community, such as in an adult day care facility

• Supervised care provided in an assisted living facility
Long-term care insurance can help pay for the services you need in a setting that's right for you.

A. Many people are surprised to learn that most health insurance policies, including Medicare and Medicare Supplements, do not cover most long-term care costs. Medicare will not pay for assisted living care and only a limited amount for skilled home care, which is not the ongoing personal assistance most people need. Medicare only pays about 12% of costs for short-term care in a nursing home following hospitalization.

A. Long-term care insurance provides benefits to help you pay for the long-term care services you need when you need them. An individual long-term care insurance policy is an important part of your financial portfolio. It can help you to:

• Protect your assets so you have the money to do all the things you planned to do in retirement.

• Preserve your estate so you have something to pass on to your heirs.
Long-term care insurance also can give you peace of mind knowing you can:

• Remain in your home and receive the quality care you need.

• Avoid burdening your family with the responsibility of caring for you.

A. You probably have insurance that protects your home and automobiles. But, the odds of losing your home or auto are not near your chance of needing long-term care - one out of two. Imagine if one out of every two houses in your neighborhood was on fire or, if one out of every two cars was involved in an accident. Given the odds of needing long-term care, many people find the risk worth insuring against.

A. The sooner you begin planning for your long-term care needs, the better. If your health changes or you’re in an accident, you could become uninsurable. And, because premiums are based on your age when you apply, the sooner you act, the lower your premiums. For example: At age 45, you may pay about half of what a 60 year old would pay.

The simple truth is that every day you wait, you remain unprotected, you risk becoming uninsurable and the cost of coverage will cost more.

Long-term care insurance can help protect your assets and also preserve your freedom of choice – the choice to remain independent, not burden family or friends with your care – and a choice to keep a lifetime of savings intact for the things you really want to do.